Today's Volume Surge In Context

Sorry to steal the jam out of the media pundit's donut but the better-than-average volume that is supposedly representative of something today in fact is solely due to the surge that occurred when we sold off into the European close and when Bernanke was dancing around Senatorial questions about stock market bubbles. It appears once again this afternoon that US equity algos have forgotten that Europe will open once again in 8 hours.

When Europe closed (at the lows) volume was 1.79mm contracts against an average of 1.1mm or 62% above average.

Indeed, Cdad's proprietary BlowHorn [CNBC] Unwatchability Indicator is currently off the charts. And as per usual, it remains true that the only way to get an unmanipulated view of markets is...to refresh ZH.

I personally cannot wait for the ZH special due soon on just what Bernanke said today during the Q/A session of today's hearing. Mr. Bernanke clearly explicitly said...there is no market...or perhaps The Fed IS the market.

We play with real money....they play with no-cost, unlimited credit lines which they create themselves. It will all come crashing down at some point, and all the paper will be worthless (including the shorts). Then they will declare a state of emergency and steal anything we have left that was not invested with the crooks.